Tips on how to up-sell and cross-sell better!
Last week, we released our eBook on how to build the perfect conversion funnel - and we hope you have succeeded in doing so! Now you have finished building your conversion funnel, you have to make it work and because cross-selling and up-selling are such intracule parts of making your sales funnel function effectively, we did some research on how you can improve these aspects to help your sales team and improve your conversion funnel!
For those of you who do not know what these two words mean we will explain that now: up-selling encourages the purchase of something that makes the main purchase more costly and cross-selling is the encouraging of a purchase of something in a combination with the main product or service. Up-selling and cross-selling increase revenue and improve your conversions, however, your current consumers do not want to be exploited and can see through the, “I see you benefitted from this service, would you like to try this one?” So, how do you utilize and make the most of up-selling and cross-selling while still maintain good relationships with your consumers?
1. Use them at the right time
You definitely do not want to over sell to your existing customers or you will risk losing them. Up-selling works better then cross-selling at an early stage because people who have just spent money very rarely want to spend more until they reap the benefits of the product. This is why you can offer something to them with up-selling that makes the product work, such as offering batteries and a memory card to someone who has just bought a camera. The camera needs these components to function, so a customer will thank you for the suggestion. With cross-selling you may offer a tripod, but it’s best to wait. Once a client has already paid for and used your company’s service or products, then you can offer them a suggestion for something else that may enhance that experience. This can be done through personalized email marketing strategies.
2. Create offers that make sense
Your suggestions to your clients for cross-selling and up-selling have to make sense. There needs to be a progression and an understanding for why they may want to pay extra for that service, X’s service or product has to fit in with Ys service or product. If a client asked for leads in the form of email addresses from your company, you may offer the client these leads as well as other specific information on these leads that helps them make the sale for a bit of extra money. The consumer can see why that helps them and will be willing to pay more for that.
Once you have used up-selling and cross-selling with a client and they appreciated the service and product, you should have a pretty good relationship with the customer and therefore ask for a review on the services they have received. These reviews not only help you up-sell and cross-sell more, but they also help you see where you might have gone wrong which will help you improve your services in up-selling and cross-selling. In doing so, these reviews also show other clients how you continually improve your services and how you aim to add value to their lives.
So, you successfully closed your up-selling and cross-selling deals and you are pretty pleased about it, your job is still not done. When your client has taken another step with your company to keep that relationship as strong as possible and to keep them buying your product and using your service you need to show your appreciation. This can be done by:
- Sending them flowers and a thank you letter;
- Sending them a piece of clothing (shirt, hat) with company branding;
- Offering them a discount on their next purchase.
This way you keep your clients happy and buying from you and you build better stronger relationships with them that result in more conversions.
We hope these tips help you up-sell and cross-sell better to get you closing more deals and enhancing the functionality of your conversion funnel!